12 Jan '12, 7pm

CPV Startup Semprius Adds $3M More to its War Chest: Yesterday saw CPV system vendor REhnu get $1 million for

Yesterday saw CPV system vendor REhnu get $1 million for its unconventional approach, and today Semprius won $3 million for its high-concentration PV systems. The funding from Morgan Creek Capital Management, Illinois Emerging Technologies Fund, and In-Q-Tel adds to the $20 million Semprius closed in June of last year from Siemens Venture Capital along with existing investors Arch Venture Partners, Applied Ventures, Intersouth Partners, and GVC Investment. Gregory Wolf, the president of Duke Energy Renewables, joined Semprius’ board of directors, according to a press release. The funding will go to establish a 5-megawatt pilot plant that is expandable to 35 megawatts. Semprius has a core semiconductor technology the firm believes can make CPV more competitive. In December of last year, NREL validated a 41 percent efficiency at 1,000 suns for a Semprius cell, close to the w...

Full article: http://www.greentechmedia.com/articles/read/CPV-Startup-S...

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